Development Land in Lexington,
For Sale
Contact for pricing
411 W Main St, Lexington, SC
2.93 acres suitable for hotel, restaurant, or medical development.
Property Size8,537 SF
Lot Size1.61 Acres
Price / SF$204.99
Days on Market1358
Property Features for 411 W Main St
General Information
Standard status
Active
Size
8,537 SF
Lot size
1.61 Acres
Property subtype
RETAIL
Listing Agency:
ERA Wilder Realty Inc. - Columbia
(803) 728-8400
Listed By:
David Brock · License #SC 58004
(803) 312-1908
Source:
Moodyscre
Added: Feb 16, 2023
Changed: Nov 1
Last Checked: Nov 4 at 11:26AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ERA Wilder Realty Inc. - Columbia
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Investment Insights
Based on property information with market context.
This property features approximately 2.93 acres of land available for development, presenting opportunities for hotel, restaurant, or medical facilities. It includes an 8,537-square-foot building in good condition. The location is in the heart of Lexington, South Carolina, an area experiencing significant growth. The business-friendly environment of Columbia, South Carolina, makes it an attractive option for companies looking to relocate or expand in the southeastern United States. South Carolina has a corporate income tax rate of 5%, the lowest in the Southeast, and the cost of living remains below the national average. Several large corporations, including Aflac, Verizon, and Amazon, have expanded in the market in recent years, adding nearly 3,000 jobs.
Key Highlights
- +/-2.93 acres for development in the heart of the City of Lexington.
- Suitable for hotel, restaurant, or medical use.
- Building in great condition with 8,537 SF.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$85,963
Cap Rate
4.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,719,260
$1.7M
Cap Rate 7%
$1,228,043
$1.2M
Cap Rate 9%
$955,144
$955.1K
Market Conditions
NOI Build-Up for 8,537 SF
Gross rent
$128.1K $15.00/SF
− Vacancy
−$5.3K −$0.61/SF
EGI
$122.8K $14.39/SF
− OpEx
−$36.8K −$4.32/SF
NOI
$86.0K $10.07/SF
Area
Lexington County, SC
Vacancy
4.10%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,719,260
Cap Rate 7%
$1,228,043
Cap Rate 9%
$955,144
Alternative Uses
Best Use
Retail
$1.23M
$1.07M – $1.43M
NOI $85,963 @ 7.0% cap · market cap 4.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.29M
$2.01M – $2.67M
NOI $160,495 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Location Intelligence
Trade Area within ½ mile
1,351
Businesses Nearby
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Individual retail property - 2.93 acres suitable for hotel, restaurant, or medical development.
Where is this individual retail property located?
The property is located at 411 W Main St Lexington, SC.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: +/-2.93 acres for development in the heart of the City of Lexington.; Suitable for hotel, restaurant, or medical use.; Building in great condition with 8,537 SF.
